Mahindra Manulife Large Cap Fund
Mahindra Manulife Mutual Fund·Large Cap Fund·vs Nifty 100 TRI
The fund maintains a defensive, quality-focused stance with banking stocks comprising over a quarter of the portfolio, anchored by ICICI and HDFC Bank. The manager has rotated out of weak auto plays like Hyundai to add fresh exposure in domestic cyclicals and financial services, signaling cautious optimism on discretionary recovery while preserving core blue-chip positions. The modest 3% cash cushion and concentrated top-10 holdings (48%) underscore a conviction-driven strategy betting on India's established consumption and financial sector leaders.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹24.2660 | — | — | — | — | — | — |
| Regular Growth | ₹21.3409 | -2.30% | -8.93% | -9.46% | -6.36% | +10.49% | +10.01% |
| Direct IDCW | ₹16.9058 | — | — | — | — | — | — |
| Regular IDCW | ₹14.2355 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
42
Top 5 Weight
31.87%
Top 10 Weight
48.16%
Active Share
—
Large Cap
87.50%
Gini
0.370
What Changed2026-03-31 → 2026-04-30
Holdings: 41 → 44+4 added−2 removed21 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| Eicher Motors Limited | 1.01% |
| Tata Motors Passenger Vehicles Limited | 0.97% |
| HDB Financial Services Limited | 0.94% |
| InterGlobe Aviation Limited | 0.92% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 9.02% |
| 2 | HDFC Bank Limited INE040A01034 | 7.93% |
| 3 | Reliance Industries Limited INE002A01018 | 5.53% |
| 4 | Bharti Airtel Limited INE397D01024 | 5.17% |
| 5 | Infosys Limited INE009A01021 | 4.22% |
| 6 | State Bank of India INE062A01020 | 3.73% |
| 7 | Larsen & Toubro Limited INE018A01030 | 3.42% |
| 8 | Tata Consultancy Services Limited INE467B01029 | 3.25% |
| 9 | Kotak Mahindra Bank Ltd INE237A01036 | 3.03% |
| 10 | Axis Bank Limited INE238A01034 | 2.86% |
| 11 | Mahindra & Mahindra Limited INE101A01026 | 2.73% |
| 12 | Hindustan Unilever Limited INE030A01027 | 2.72% |
| 13 | Triparty Repo nan | 2.71% |
| 14 | NTPC Limited INE733E01010 | 2.67% |
| 15 | Bajaj Finserv Limited INE918I01026 | 2.42% |
| 16 | Eternal Limited INE758T01015 | 2.26% |
| 17 | Avenue Supermarts Limited INE192R01011 | 2.03% |
| 18 | Sun Pharmaceutical Industries Limited INE044A01036 | 1.96% |
| 19 | Tata Steel Limited INE081A01020 | 1.91% |
| 20 | Divi's Laboratories Limited INE361B01024 | 1.86% |
Sector Allocation
Banks28.0%
IT - Software9.2%
Automobiles6.6%
Telecom - Services6.5%
Retailing5.8%
Petroleum Products5.5%
Finance5.3%
Pharmaceuticals & Biotechnology4.9%
Power4.0%
Consumer Durables3.5%
Top 10 sectors by % to NAV. Excludes derivatives.